Akoya Biosciences (NASDAQ:AKYA) Stock Rating Lowered by Craig Hallum

Craig Hallum lowered shares of Akoya Biosciences (NASDAQ:AKYA - Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday, MarketBeat.com reports. Craig Hallum currently has $5.00 price objective on the stock, down from their previous price objective of $7.00.

Other analysts also recently issued reports about the company. BTIG Research downgraded Akoya Biosciences from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 6th. Morgan Stanley downgraded Akoya Biosciences from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $4.00 to $3.00 in a report on Tuesday, August 6th. Piper Sandler decreased their target price on Akoya Biosciences from $6.00 to $4.00 and set an "overweight" rating for the company in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lowered shares of Akoya Biosciences from an "overweight" rating to a "neutral" rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.57.

Akoya Biosciences Stock Performance

Shares of AKYA traded down $0.72 during midday trading on Friday, reaching $2.41. The stock had a trading volume of 1,260,474 shares, compared to its average volume of 225,490. The firm has a 50 day simple moving average of $2.91 and a 200-day simple moving average of $2.66. The firm has a market cap of $119.29 million, a PE ratio of -2.00 and a beta of 1.34. The company has a current ratio of 2.73, a quick ratio of 1.98 and a debt-to-equity ratio of 3.43. Akoya Biosciences has a one year low of $1.88 and a one year high of $6.31.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Regal Investment Advisors LLC raised its stake in Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company's stock valued at $44,000 after purchasing an additional 7,340 shares during the period. Bank of New York Mellon Corp increased its position in shares of Akoya Biosciences by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company's stock valued at $158,000 after purchasing an additional 9,429 shares during the last quarter. State Street Corp boosted its stake in shares of Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company's stock worth $1,233,000 after purchasing an additional 18,361 shares during the period. Vanguard Group Inc. lifted its stake in shares of Akoya Biosciences by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company's stock worth $6,821,000 after acquiring an additional 46,131 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in Akoya Biosciences by 87.4% in the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company's stock worth $845,000 after buying an additional 144,903 shares during the period. Hedge funds and other institutional investors own 79.42% of the company's stock.

About Akoya Biosciences

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow.